Astronics Announces Acquisition of PGA Electronic

Astronics Announces Acquisition of PGA Electronic

  *Leading manufacturer of seat motion and lighting systems for business and
    first class aircraft seats
  *Europe's leading manufacturer of in-flight entertainment and cabin
    management systems for VVIP aircraft

EAST AURORA, N.Y., Nov. 4, 2013 (GLOBE NEWSWIRE) -- Astronics Corporation
(Nasdaq:ATRO), a leading provider of advanced technologies for the global
aerospace and defense industries, announced today that it has entered into a
definitive agreement to acquire PGA Electronic ("PGA") for approximately $28.5
million. The purchase price will be paid 60% in cash and 40% in Astronics
stock. The deal is expected to close before year end, subject to customary
closing conditions.

PGA Electronic, located in Châteauroux, France, designs and manufactures seat
motion and lighting systems primarily for business and first class aircraft
seats and is Europe's leading provider of in-flight
entertainment/communication systems as well as cabin management systems for
private VVIP aircraft. Its customers are primarily aircraft seat manufacturers
and corporate jet completion centers. Approximately 91% of PGA's sales are in
Europe. For its fiscal year 2013, which ended August 31, 2013, PGA had sales
of approximately $44 million. The business generates margins similar to those
of Astronics.

Peter J. Gundermann, CEO of Astronics, commented, "The addition of PGA to
Astronics deepens our reach into the European aircraft market while extending
our lighting and power technologies. The acquisition complements well our
other lighting, cabin electronics and communication capabilities."

PGA was established in 1989 and currently has about 190 employees. Its
products can be found on the full range of commercial transport aircraft
programs and on many large private and government jets around the world.

ABOUT ASTRONICS CORPORATION

Astronics Corporation is a leader in advanced, high performance lighting,
electrical power and automated test systems for the global aerospace and
defense industries. Astronics' strategy is to develop and maintain positions
of technical leadership in its chosen aerospace and defense markets, to
leverage those positions to grow the amount of content and volume of product
it sells to those markets and to selectively acquire businesses with similar
technical capabilities that could benefit from our leadership position and
strategic direction. Astronics Corporation, and its wholly-owned subsidiaries,
Astronics Advanced Electronic Systems Corp., Ballard Technology, Inc., DME
Corporation, Luminescent Systems Inc., Max-Viz, Inc., AeroSat and PECO, Inc.,
have a reputation for high-quality designs, exceptional responsiveness, strong
brand recognition and best-in-class manufacturing practices. The Company
routinely posts news and other important information on its Web site at
www.astronics.com.

For more information on Astronics and its products, visit its Web site at:
www.Astronics.com.

Safe Harbor Statement
This news release contains forward-looking statements as defined by the
Securities Exchange Act of 1934. One can identify these forward-looking
statements by the use of the words "expect," "anticipate," "plan," "may,"
"will," "estimate" or other similar expressions. Because such statements apply
to future events, they are subject to risks and uncertainties that could cause
actual results to differ materially from those contemplated by the statements.
Important factors that could cause actual results to differ materially include
the state of the aerospace and defense industries, the success of
acquisitions, market acceptance of newly developed products, internal
production capabilities, the timing of orders received, the status of customer
certification processes, the demand for and market acceptance of new or
existing aircraft which contain the Company's products, customer preferences,
and other factors which are described in filings by Astronics with the
Securities and Exchange Commission. The Company assumes no obligation to
update forward-looking information in this news release whether to reflect
changed assumptions, the occurrence of unanticipated events or changes in
future operating results, financial conditions or prospects, or otherwise.

CONTACT: For more information contact:
        
         Company:
         David C. Burney, Chief Financial Officer
         (716) 805-1599, ext. 159
         Email: david.burney@astronics.com
        
         Investor Relations:
         Deborah K. Pawlowski, Kei Advisors LLC
         Phone: (716) 843-3908
         Email: dpawlowski@keiadvisors.com

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